4. Asian Petroleum holds huge reserves of oil. Assume that at the end of 2023 , Asian Petroleum's cost of oil reserves totaled $168,000,000, representing 240,000,000 barrels of oil. Suppose Asian Petroleum removed and sold 16,000,000 barrels of oil during 2024. Journalize depletion expense for 2024 . (Assume no residual value. Record debits first, then credits. Select the explanation on the last line of the journal entry table.)